Wisr (ASX:WZR) share price edges higher on another record quarterly result

The non-bank lender continues to kick goals, marking its 21st consecutive quarter of growth
The post Wisr (ASX:WZR) share price edges higher on another record quarterly result appeared first on The Motley Fool Australia. –

The Wisr Ltd (ASX: WZR) share price is trading slightly higher on Friday after the company released an upbeat first-quarter trading update.

At the time of writing, the Wisr share price is up 1.79% to 28.5 cents.

Wisr hits another quarter of growth

Wisr was pleased to deliver its 21st consecutive quarter of loan growth, originating $132 million of new loans in the September quarter. That’s up 113% on 1Q21.

Similarly, the Wisr Warehouse Loan Book balance surged 239% against the prior corresponding period to $451 million.

The company’s total loan originations sat at $743 million as of 30 September. That is up 142% compared to a year ago.

The company believes it’s well-positioned to continue its strong growth trajectory. It is also confident it can reach its medium-term goal of a wholly owned $1 billion loan book.

Management commentary

Speaking on the milestone that’s possibly driving the Wisr share price today, CEO Anthony Nantes said:

Twenty-one straight quarters of new loan growth is a fantastic achievement. Looking to the next quarter and beyond into H2, there is such a massive runway of growth ahead of us in the markets of auto finance and personal loans as lockdown restrictions start to lift; consumer demand will only grow. Combined with our new $225 million Wisr Secured Vehicle Warehouse coming into effect in Q2 FY22, we’re in an incredibly strong position to continue to deliver sustained growth.

A range-bound Wisr share price

The Wisr share price has largely been range-bound ever since its $50 million capital raising back in June.

New shares under the placement were offered at 25 cents. That’s a massive 21.9% discount to Wisr’s last closing price before the capital raising.

Not only were institutional investors offered a significant discount, but the raise itself represented 18.2% of the company’s existing shares on issue.

The Wisr share price has since tested lows of around 25 cents, but struggled to hold above 31 cents.

The post Wisr (ASX:WZR) share price edges higher on another record quarterly result appeared first on The Motley Fool Australia.

Should you invest $1,000 in Wisr right now?

Before you consider Wisr, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Wisr wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why Tesla stock jumped on Thursday

The ASX share showing explosive post-COVID growth

De Grey Mining (ASX:DEG) share price sinks 9% after raising $125m

Laybuy (ASX:LBY) share price surges 14% on record quarterly

Humm (ASX:HUM) share price edges higher on first quarter results

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!